'Invent' Challenge-2012: significance of entrepreneurial innovations discussed

Speakers at a conference discussed the significance of innovations in entrepreneurial ecosystem of the country, saying that entrepreneurial challenge was indeed a big step to imbibe the youth with latest innovation in various fields.
They said that it was high time to encourage Pakistani youth to explore new entrepreneurial paths keeping in view the challenges facing country in global markets.
This was highlighted in a program entitled 'Invent - The Entrepreneurial Challenge-2012 Finals and Conference', organised under the auspices of IBA Entrepreneurship Society at IBA's main campus here on Saturday.
IBA's Dean and Director Dr lshrat Husain elaborated upon the reasons why emphasis was on entrepreneurship. He identified three key reasons why small- and medium-scale enterprises were functioning below their optimum capacities and hence had room for expansion. The youth, he said, had an inherent risk-taking ability, but did not have the tools and techniques. Lastly, labour force in the country was expanding at a rate of 1.5% per annum and there was a great need for job creators, instead of job seekers.
"For these reason IBA has committed to entrepreneurship through mentoring, educating, training and research," Dr Ishrat said. The key note address was delivered by Ambassador Shahid Kamal, Adviser on Science, Technology & Innovation Organisation, and Comstech on 'Emerging Trends and Practices in the Framework of Entrepreneurship'. He said that entrepreneurs needeed to start inventing their own concepts. "We need to teach our budding entrepreneurs to be risk taking and promote small adventures."
He pointed out: "It is the world of ideas today. Imagination, ideas and innovation together are the key resource to achieve success." Zafar Ahmed Siddiqui, the Director of Centre for Entrepreneurial Development (CED), said: "Entrepreneurship is a concept we need to sell everyday; working 9 to 5 is all very well, but doing something on your own is a much better phenomenon."